Bangkok Real Estate Market: Soaring High after the Turbulence
Bangkok’s real estate market is now experiencing an exponential growth. Construction sites, luxury condominiums and big housing estates are popping up like mushrooms in the city. Bangkok also has abundance in property developers and real estate agents mainly because more and more young and affluent Thais continue to take interest on real estate properties.
Bangkok Real Estate Market after the Civil Unrest
Whether you are looking for a real estate to buy or rent in Bangkok, you are going to find some of the most luxurious residences in some of the most breath-taking sceneries you have ever seen. This is why the real estate market in Bangkok continues to flourish even after a civil unrest. According to analysts, Bangkok quickly recovered from the effects of the civil unrest in April 2010. The event lowered the establishments of new projects. However, it did not result to panic selling. Reports also said that Bangkok showed quick development since its real estate market did not suffer from price deflation. After the unrest, the real estate property market was said to have been effectively divided into two. These are the larger unit market in the downtown and the single bedroom market mainly in midtown Bangkok. The market for the larger units has been slow and only has a few new launches. But despite the unsold units, most developers have been successful with the help of incentives and packages inclusive in the unit’s price. Such packages included furniture and guaranteed yields.
The market for smaller units has seen better sales with mostly Thai buyers. For the downtown, midtown and suburban areas, most of the launches are single-bedroom projects only. The market has also seen a decrease of large unit project launches which helped developers clear off its surplus inventories. This strategy has proven to be successful as the market has then showed overwhelming signs of development.
Buying Bangkok Real Estate
With real estates priced at less than half of what are offered in the west, combined with a countless beautiful scenic locations, the Bangkok real estate market is fast becoming an instant hit among local and foreign real estate seekers. Thailand’s land ownership laws strictly dictate that its housing market is exclusively for Thai nationals except for condominium properties. Bangkok’s major real estate agents actively attract expatriate investors looking from small studio condos to high-end sky rise penthouses. This made buying Bangkok condos the most common option for foreigners who have no legal right to own a land in the city. The areas of Sukhumvit, Lumpini and Sathorn are some of the favorite locations of foreigners for a luxurious condo hunt.
Renting in Bangkok
If you are renting in Bangkok, you will find that most properties are fully furnished with everything you need such as washing machine, television, micro wave oven and air-conditioning. If you want more luxurious amenities such as tennis court, private swimming pool and excellent services, then higher-end condos are what you should be looking into.
With everything that Bangkok real estate market has to offer, there are actually no limits when it comes to finding a perfect rental property for yourself. Even when you’re working around a limited budget, you will still be able to get a decent roof above your head. This has become one of the key factors to the market’s inevitable success.